SPRINGFIELD, Mo. - Great Southern Bancorp, Inc. (NASDAQ:GSBC), the parent company of Great Southern Bank, has announced a quarterly dividend of $0.40 per common share for the second quarter of 2024. The dividend is scheduled to be paid on July 16 to shareholders who are on record as of July 1, 2024. This marks the 138th consecutive quarterly dividend issued by the company to its common stockholders.
Great Southern Bancorp, with total assets amounting to $5.8 billion, provides a wide array of banking services to both commercial and consumer clients. The company, which is based in Springfield, Missouri, operates a network of 89 retail banking centers across six states, including Missouri, Iowa, Kansas, Minnesota, Arkansas, and Nebraska. Moreover, it has commercial loan production offices in several major cities, such as Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix.
The company's common stock is traded on the NASDAQ Global Select Market under the ticker symbol GSBC. Great Southern Bancorp's consistent payment of dividends reflects its ongoing commitment to shareholder returns.
The information in this article is based on a press release statement from Great Southern Bancorp, Inc.
In other recent news, Great Southern Bancorp demonstrated steady performance in the first quarter of 2024, despite economic headwinds. The company reported earnings per share of $1.13 and net earnings of $13.4 million, alongside a robust capital and liquidity position, with total stockholders' equity reaching $565.2 million.
The financial metrics also spotlighted a $0.40 per share dividend, an uptick in deposit costs, a slight dip in loan origination volume, and a marginal increase in non-performing assets, primarily due to a foreclosed multifamily project.
The company anticipates flat or slightly decreasing loan growth in the upcoming quarters, attributed to reduced demand driven by higher interest rates. The effective tax rate for the remaining quarters of 2024 is projected to range from 18.5% to 20.5%.
Despite a slight decrease in outstanding loan balances, the company's diverse loan portfolio performed well, and total deposits grew by $51.7 million during the quarter, reinforcing the company's financial stability.
Still, non-interest income did not meet the previous year's figures, reflecting a $1.1 million drop. The company does not foresee significant deterioration in asset classes, with the exception of high-rise urban office spaces. Further updates are promised at the conclusion of the second quarter, providing investors with ongoing transparency.
InvestingPro Insights
Great Southern Bancorp (NASDAQ:GSBC) has demonstrated a commitment to shareholder returns through its impressive track record of 35 consecutive years of dividend payments. The recent announcement of their quarterly dividend continues this tradition, reinforcing the company's reliability in providing shareholder value.
According to InvestingPro data, Great Southern Bancorp has a market capitalization of $615.31 million and a Price/Earnings (P/E) ratio of 10.33, which adjusts to 10.13 on a last twelve months basis as of Q1 2024. This indicates a reasonable valuation relative to earnings, which could appeal to value-oriented investors. Moreover, the company's Price/Book ratio as of the last twelve months stands at 1.09, suggesting that the stock is trading at a fair value relative to its book value.
While the company's revenue saw a decrease of 7.62% over the last twelve months, the commitment to maintaining dividend payments may be of particular interest to income-focused investors. Moreover, an InvestingPro Tip points out that analysts predict the company will remain profitable this year, which could provide further confidence in the stability of future dividends.
For those interested in deeper analysis and additional insights, there are more InvestingPro tips available for Great Southern Bancorp at https://www.investing.com/pro/GSBC. For instance, while the company suffers from weak gross profit margins, it has been profitable over the last twelve months.
Investors can access these tips and more by taking advantage of a special offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With this subscription, investors can explore a total of 5 InvestingPro Tips related to Great Southern Bancorp, which may aid in making informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.